Citi, BNP face Huawei probe

Business | Reuters 22 Aug 2019

US-based Citigroup and French bank BNP Paribas are caught up in the US criminal case against the chief financial officer of China's Huawei Technologies, according to newly available documents.

The banks were named in documents released on Tuesday after a hearing in British Columbia Supreme Court where Huawei CFO Meng Wanzhou is fighting extradition to the United States on bank fraud charges.

The two are among at least four financial institutions that had banking relationships with Huawei when Meng and others allegedly misled them about its business dealings in Iran despite US sanctions. Two others, HSBC Holdings and Standard Chartered have been previously reported.

The banks are considered "victim" institutions in the 13-count indictment the United States brought against Meng and Huawei, which includes charges of bank and wire fraud, violating sanctions against Iran and obstructing justice.

Both she and Huawei have denied wrongdoing.

Representatives for the four banks did not immediately respond to emails from Reuters seeking comment. But Standard Chartered, Citigroup and BNP Paribas have previously declined to comment when asked about their possible involvement in the Huawei case.

The court allowed the materials, including video of Meng's arrest, to be made public in advance of a hearing scheduled to begin September 23 in Vancouver.

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